Get Ready for Platinum

Higher-end cards typically offer features like cash back, airline miles, and lower interest rates. How do you know you’re ready for platinum?

Great credit alone won’t cut it. A premium card requires a credit score in the mid-700s. Buuuut that’s not enough. Card companies want you to have a stable job with higher-than-average income—and they want to see that you have a history of charging a lot (and paying on time), says credit expert Erica Sandberg.

Make sure the fee is worth it. A lot of premium cards come with annual fees ranging from $15 to $300. “Weigh the fee against the services you’re apt to use before you apply,” says Sandberg. Fly often? A card that gives you access to cushy airport lounges might be worth it. Do the math.

Get one you’ll actually use. Start by checking out Credit Card Guide’s free CardMatch tool, or search cards according to your credit score range on CreditCards.com. Says Sandberg: “It’s not worth it to get a card that’s irrelevant to your life.”

Out of the Box If you get turned down for a platinum card, don't sweat the hit to your credit: inquiries only account for 10% of your score, Sandberg says. (Just don’t apply 10 times in a row.)